I Read The News Today Oh Boy! 24-May-2019

Friday, May 24 2019 by
10

Morning all!

Headlam ( Headlam (LON:HEAD) ) – 466p – £387m – PER 11.8

AGM Statement And Trading Update For The 1st 4 Months Of The Year – LFL Revenue up 3.5%, FY expectations unchanged, reliant on a typically stronger H2.

The growth here is not exactly stellar but the yield and ability to pay that yield seems to be providing support – A potential for income (with small growth perhaps).

Luceco ( Luceco (LON:LUCE) ) – 102p – £164m – PER 16.1

AGM Statement And Trading Update For The 1st 4 Months Of The Year – Trading momentum continues and expects FY to be materially ahead of current market expectations.

Going to take this off my Avoid list (it had been on there since price collapsed at the end of 2017) – I will keep an eye out for upgrades, up 3 fold from the low now.

Mothercare ( Mothercare (LON:MTC) ) – 20p – £69m – PER 35.8

Results For The 12 Months To End March 2019 – Revenue down -13.5% (from £654.5m to £566.3m), LBT down -19.9% (from £72.8m to £87.3m) – Ongoing operation figures slightly better. Net Debt at £6.9m (£44.1m last time).

Has a corner been turned here? I don't (think so) know! Anyway, I still don't see a long term future here – Need kids or baby stuff, Amazon, Simples! Remains on my Avoid list. 

As always, all comment most welcome!

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Headlam Group Plc is a United Kingdom-based company, which is engaged in the marketing, supply and distribution of a range of floorcovering products. The Company's operations are focused on providing customers, principally independent floorcovering retailers and contractors, with a range of floorcovering products supported by a next day delivery service. The Company operates through 56 operating segments in the United Kingdom and five operating segments in Continental Europe. Each operating segment is a trading operation aligned to the sales, marketing, supply and distribution of floorcovering products. The Company's activities and facilities are located throughout the United Kingdom, France, Switzerland and the Netherlands. Its business in France operates from approximately two distribution centers and over 20 service centers, and the businesses in Switzerland and the Netherlands each operate from a single distribution center. more »

LSE Price
448.5p
Change
-0.8%
Mkt Cap (£m)
383.2
P/E (fwd)
11.6
Yield (fwd)
5.6

Luceco plc offers a range of brands, including Luceco, BG Electrical, Masterplug and Ross. The Company's products include Luxpanel, Epsilon and ambient lighting. Luceco light emitting diode (LED) lighting provides commercial and domestic lighting solutions. BG Electrical is a wiring accessory manufacturing brand, which serves electrical trade and specifiers. BG Electrical's products include White Rounded Edge, Nexus Flaplate Screwless, Nexus Metal, Nexus Storm, Nexus Grid and Metal Clad. Masterplug supplies portable power equipment through do-it-yourself (DIY) outlets and street retailers. Masterplug offers products under various categories, including indoor power, such as plugs and adaptors, sockets, chargers and cables; outdoor power, such as case reel, weatherproof box and extension leads, and workpower, such as trailing sockets, inline connectors, cassette reels and cable reels. Ross offers a range of audio visual and home entertainment products. more »

LSE Price
113.6p
Change
1.4%
Mkt Cap (£m)
180.1
P/E (fwd)
14.3
Yield (fwd)
1.6

Mothercare plc is a retailer for parents and young children. The principal activity of the Company is to operate as a specialist omni-channel retailer, franchisor and wholesaler of products for mothers-to-be, babies and children under the Mothercare and Early Learning Centre brands. The Company's operating segments include the UK business and the International business. The UK business segment includes the United Kingdom store and wholesale operations, catalogue and Web sales. The International business segment includes the Company's franchise and wholesale revenues outside the United Kingdom. Its clothing and footwear product includes ranges for babies, children and maternity wear; home and travel includes pushchairs, car seats, furniture, bedding, feeding and bathing equipment, and toys are mainly for babies. It operates in the United Kingdom through its stores and direct business, and across the world in over 60 countries through its international network. more »

LSE Price
19.93p
Change
2.1%
Mkt Cap (£m)
66.7
P/E (fwd)
18.0
Yield (fwd)
n/a



  Is LON:HEAD fundamentally strong or weak? Find out More »


3 Posts on this Thread show/hide all

blondeamon 24th May 1 of 3
2

Luceco (LON:LUCE)

Revenues up, margins up, net debt down, cash up.

Materially ahead, which means margins are now back again in double-digit territory so the market must have vastly underestimated how much pbt they'll make this year.

Market expects them to do £9m PBT this year but if revenues improve a bit and go back to 2018 numbers of 167m and margin improving means going back to 12% then they're looking at £20m. That's 2.2x what the market expects, hence the materially ahead.

Share price would need to double to adjust to it.

P.S Lower copper prices for them must also helped bring down raw material costs in last 6 months.

| Link | Share | 1 reply
matylda 24th May 2 of 3

In reply to post #478316

Thanks blondeamon for expanding on the update there - Sure missed this one !!!!!

Blog: Briefed Up
| Link | Share
MrContrarian 24th May 3 of 3
2

My morning smallcap tweet: Juice for LUCE holders

Tarsus (LON:TRS), Hargreaves Services (LON:HSP), Luceco (LON:LUCE), IQE (LON:IQE), Westminster (LON:WSG), Mothercare (LON:MTC)

Tarsus Group (TRS) rec offer of 425p, a 36% premium.
Hargreaves Services (HSP) conditional sale of land valued at over £9m in proceeds to Hargreaves, principally dependent on detailed planning permission and statutory approvals. Guides H2 2020.
Luceco (LUCE) AGM stmt: guides FY adj op profit materially ahead of current market expectations.
IQE (IQE) Hauwei ban may cause "some delay to orders and the potential for adjustment of supplier managed inventory levels, predominantly in its Wireless Business Unit." Estimates max risk exposure to this matter <5% of FY rev.
Westminster Group (WSG) FY rev up 24%. Pretax-cont -£1.5m (-£2.1m restated). I have no F/C. Current order intake and rev ahead of budget.
Mothercare (MTC) FY rev £566m down 14%. Reuters F/C £600m but yesterday said results would be in-line. Pretax-adj -£8.6m (-£6.8m). Going concern stmt. Current trading in line.

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